One of the largest lotteries in the United States, Mega Millions has made many dreams come true with lucky six numbers!
The largest jackpot in Mega Millions, as well as in American lottery history, was $656 million annuity value (with a cash option of $474 million) for the March 30, 2012 drawing, in which there were three jackpot-winning tickets; one each in Illinois, Kansas, and Maryland. All three tickets had been claimed as of April 18, with each set of winners choosing the cash option of $158,000,000, a one-third share. The largest Mega Millions prize was $319 million (annuity) for the lone winning ticket of the March 25, 2011 drawing.
Winning and probability
A player wins a prize according to the following.
In California, prize levels are paid on a parimutuel basis, rather than the fixed lower-tier amounts for winners in other Mega Millions jurisdictions. California’s eight lower-tier Mega Millions prize pools are separate from those shared by the other 43 lotteries. California’s second prize is a “secondary jackpot”; its payout sometimes exceeds $1,000,000 cash, even though California does not offer the Megaplier.
In October 2013, Mega Millions will undergo a format change; the upcoming version will feature an increase in second prize from $250,000 to $1,000,000.
Playing Mega Millions is fairly easy if you’re used to playing to lottery
How To Play
Mega Millions tickets cost $1.00 per play.
Players may pick six numbers from two separate pools of numbers – five different numbers from 1 to 56 and one number from 1 to 46 – or select Easy Pick. You win the jackpot by matching all six winning numbers in a drawing.
What if you win the jackpot?
Annuity option: Provides 26 annual payments. For every $1,000,000 in the jackpot, you will receive approximately $38,500 per year before taxes.
Cash option: A one-time, lump-sum payment that is equal to all the cash in the Mega Millions jackpot prize pool.
In addition to the jackpot, there are other prizes ranging from $2 to $250,000*.
* In California all prizes are pari-mutuel, meaning payouts are based on sales and the number of winners. All other Mega Millions states set the 2nd through 9th prizes at pre-determined amounts.
**Some states use a Megaplier feature to increase non-jackpot prizes by 2, 3 or 4 times. To find out if your state participates, and to get Megaplier results, visit the lottery web site in the state in which you played.
Above as we state it is really easy to play the Mega Million Lottery however playing good provide freedom and problems. Understanding what to do in the event that you win the lotto could be very important to know.
We’re bringing this up today, of course, because America went crazy for lottery tickets this week, buying up so many entries in the Mega Millions drawing that the jackpot soared to a record-smashing $640 million. That number could get higher still: if a winner isn’t picked Friday night, according to The Boston Globe, the pot will climb to an estimated $975 million.
It’s tempting stuff — especially at a moment when half of all Americans earn less than $27,000 a year, and more and more people can’t afford the basics. But this paper — plus a wealth of additional evidence, anecdotal and otherwise — suggests that winning the lottery may not be the best thing that could happen to you.
The researchers, led by Mark Hoekstra of the University of Pittsburgh, found that five years down the line, there were almost no meaningful differences between the big lottery winners and the small. The two groups had comparable assets and debts. But there was one big distinction — the big winners were more likely to have gone bankrupt, for the simple reason that, as the authors put it, they had “consumed their winnings.”
Happy Is Never Guaranteed If You Win The Mega Million Lotto
I’ve seen several cases — like Abraham Shakespeare, who was murdered in Florida, and Amanda Clayton, a 25-year-old lottery winner from Michigan who died of a drug overdose — of lottery winners dying far too young.
Guengerich makes one conclusion similar to my own observations: Happiness comes from giving back to society and making a difference for other people.
I disagree with another of his points. He says that lottery winners should spend like there is no tomorrow.
Too many lottery winners already do that.
For a decade, I have used a statistic I found that said 90 percent of lottery winners run through their money in five years or less. Jeremy Babener, a top notch tax attorney in Portland Oregon, has done extensive research on the subject of income dissipation and has convinced me that the percentage is more like 70 percent.